Punch Taverns has responded to what it calls “unfounded claims” from its tenants, after it was accused in a number of evidence statements to the pubs code Bill.
Punch Taverns said its 2014 nationwide roadshow has been the most successful tour in their 11-year history, after more than 2,300 licensees attended the event.
Punch Taverns has this morning reported a 1.3% rise in like-for-like net income across its 2,925-strong core estate – which marks five consecutive quarters of growth, and said it could now focus on improving its business through investment in its pubs...
Damages have been awarded against Punch Taverns for breaches of its code of practice following the latest case to go through the Pubs Independent Conciliation & Arbitration Service (PICA-Service).
One of the things I was always cagey about when writing about the Gunmakers back in 2009 (the year I became licensee) was the pub's 'tie' to Punch Taverns, writes Jeffrey Bell.
Punch Taverns and Admiral Taverns have both ruled out introducing managed divisions alongside their leased and tenanted estates, the Publican’s Morning Advertiser (PMA) can reveal.
Punch Taverns bosses have reiterated that it is “business as usual” following the long-awaited completion of its financial restructuring, despite demands for a corresponding rebalancing of its relationship with tenants.
Punch Taverns has finally completed its restructure, two years after the process began. The Publican's Morning Advertiser looks at the timeline of the plans.
Punch Taverns chief operating officer Neil Griffiths is a “strong candidate” for the role of chief executive, and the group would look at candidates with retail skills from inside and outside the pub sector, executive chairman Stephen Billingham has said.
A total of 180 Punch Taverns pubs have got involved in the company’s apprenticeship programme, with 42 licensees having taken on new apprentices, the group has said.
Punch Taverns has announced the launch of its restructure, which had been delayed from last Monday, saying that its new structure is set to be in place from 8 October subject to approval from creditors.
Punch Taverns has been found to have committed technical breaches of its code of practice in the latest case to go through the Pubs Independent Conciliation & Arbitration Service (PICA-Service).
Punch tenants are still concerned about the future of their pubs, despite bondholders last week voting in favour of the pubco’s restructuring proposals.
Punch Taverns has re-launched its tenants training programme, after claiming new licensees often “underestimate” the expertise they need to run a successful pub.
A publican facing eviction has asked Punch Taverns to offer him and other struggling licensees the same debt waiver the company requested from noteholders.
Punch Taverns has this morning published details of revised restructuring terms, which differ in a number of ways from the terms of the restructuring launched by the company in January, including a debt for equity swap that would see bondholders take...
Talks regarding the restructuring of Punch Taverns are set to continue after the pub company announced this morning that its bondholders had voted in favour of waiving covenants that would otherwise have placed the company in default.
Punch Taverns today reported a 1.4% rise in like-for-like net income across its core estate for the last six months and said talks over its debt restructure continue.
A group representing senior Punch Taverns noteholders has signalled its acceptance of the pub company’s request to waive its covenant and avoid default on its debt securitisations.
Punch Taverns has called a meeting with bondholders to vote on a request to waive its debt covenant to “avoid a near-term default” on its securitisations.
Campaigners hoping to save a Devonshire village pub have been handed a lifeline after Punch Taverns agreed to sell the property to a community enterprise group.
Punch Taverns has expressed frustration that its efforts to engage with Liberal Democrat politicians involved in the Government’s consultation on pubco regulation have gone unanswered.
Punch Taverns has stated that it would default on its debt payments within 30 days of the 15 April covenant testing date if it fails to achieve its restructuring plan, and warned of the “material negative impact on the business” if its plan is not approved...
Punch Taverns is unable to guarantee that tenants’ deposits would be secure in the event of a default on its £2.3bn debt mountain, but suggested it would be highly unlikely that an administrative receiver would not protect the funds.
The next few days will be some of the most important in the history of Punch Taverns, the group’s executive chairman Stephen Billingham has said as it nears the date where noteholders vote on its debt restructuring proposals.
